XRP Coils in Consolidation — Are Bulls Gearing Up for a Breakout?
XRP rose from R$2.150. Price is consolidating gains and may rise over R$2.220.
Above R$2.150, XRP price rose again.
The price is above R$2.150 and the 100-hour SMA.
The hourly XRP/USD chart shows a bullish trend line with support around R$2.1320.
If it breaks R$2.220 barrier, the pair may rise.
XRP Price Looking Up
Like Bitcoin and Ethereum, XRP price strengthened and rose beyond R$2.050. Price rose over R$2.080 and R$2.120 barrier.
The pair crossed R$2.180 and just broke R$2.220. The price is consolidating gains above the 23.6% Fib retracement line of the upward run from the R$1.910 swing low to the R$2.2294 high.
The price is above R$2.180 and the 100-hour SMA. The hourly XRP/USD chart shows a bullish trend line with support around R$2.1320.
Price may find resistance at R$2.220 on the upside. Near R$2.250 is the first big obstacle. R$2.320 is next resistance. A clean break over R$2.320 might push the price above R$2.40.
More advances might push the price toward R$2.480 or R$2.50. The bulls may face R$2.550 next.
Correcting Down?
XRP may fall again if it fails to break R$2.220. Around R$2.150 is first downward support. Near R$2.1320 and the trend line is the next key support.
If the price breaks down and closes below R$2.1320, it may fall below the R$2.050 support or 50% Fib retracement level of the upward run from the R$1.910 swing low to the R$2.2294 high. Near R$2.00 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD MACD is rising in the positive zone.
XRP/USD's hourly RSI is over 50.
Major Support Levels: R$2.150, R$2.1320.
Two major resistance levels: R$2.220 and R$2.250.
